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Call us today to set up a free consultation. Call now: (727) 954-3720.

Bankruptcy is a federally protected program that can be used by both businesses and individuals.  Bankruptcy can discharge and forgive your debts and stop all collection phone calls and letters. However, there are consequences of declaring bankruptcy, and you should speak to a bankruptcy attorney to assist you in weighing the pros and cons. Warren Law Firm offers two types of bankruptcies: chapter 7 and chapter 13.

Most Common Types of Bankruptcy

Chapter 7

Chapter 7 is the most common and quickest form of bankruptcy.

For individuals, Chapter 7 allows those unable to pay their bills to walk away from their debt and start over.

For Businesses, Chapter 7 requires the business to liquidate assets and terminate their operations.

What to Expect During a Chapter 7 Bankruptcy

In a Chapter 7 Bankruptcy, we will list out all of your debts, assets, and provide additional financial history documentation to the court.

After this documentation has been filed, a hearing will be held with the Bankruptcy Trustee.

A Chapter 7, or liquidation bankruptcy, will allow you to keep your exempt assets, such as a residence or car, while selling non-exempt assets to pay off your debt.

It is important to note that not all debts can be discharged in a Chapter 7. This includes Federal and State taxes, Child Support, and Student Loans.

Chapter 13

For individuals, Chapter 13 may offer the best benefits that the Federal Bankruptcy Code provides. A Chapter 13 allows an individual to keep possession of property, which may include your home, but in turn requires a payment plan to repay all or some of the debts owed within a 3 to 5-year period. However, a Chapter 13 Bankruptcy does not discharge debts.

Schedule a FREE Bankruptcy Zoom consultation with Warren Law Firm

Warren Law Firm provides free initial video consultations to determine if you are a candidate to file for bankruptcy.

In order to schedule a time for a free video consultation you will need the following things:

1. Copy of Credit Report; and,

2. Completed Financial Questionnaire.  Please contact us at the number below and we will provide you with a copy of this questionnaire. 

If you are considering filing for bankruptcy and want to discuss your options with an attorney, contact our office and schedule a time for a consultation. (727) 954-3720. We recommend collecting as much financial information including a recent credit report, credit card statements, etc. prior to contacting our office.